What are the credit score ranges in Canada?
In Canada, your credit score ranges from 300 to 900, 900 being a perfect score. If you have a score between 780 and 900, that’s excellent. If your score is between 700 and 780, that’s considered a strong score and you shouldn’t have too much trouble getting approved with a great rate.
Is 629 a good credit score in Canada?
300-629: This range is considered a bad credit score, and being in this range will make it difficult to obtain financial products, low-interest rates and more. 690-719: You have a Good credit score. Keep up the good work.
Is 730 a good credit score in Canada?
You’re considered to have a good credit score in Canada if it’s 660 or higher: Good: 660 – 724. Very Good: 725 – 759. Excellent: 760 – 900.
Is 690 a good credit score in Canada?
In general, a rating above 690 is considered a good credit score in Canada, and is reserved for borrowers who make most of their payments on time and in full and don’t carry high levels of debt. If you’ve got a credit score of 750 or so, you’re in excellent shape.
What are good credit scores in Canada?
In Canada, according to Equifax, a good credit score is usually between 660 to 724. If your credit score is between 725 to 759 it’s likely to be considered very good. A credit score of 760 and above is generally considered to be an excellent credit score. The credit score range is anywhere between 300 to 900.
Can you get 900 credit score?
A credit score of 900 is either not possible or not very relevant. On the standard 300-850 range used by FICO and VantageScore, a credit score of 800+ is considered “perfect.” That’s because higher scores won’t really save you any money.
Does debt go away after 7 years in Canada?
This myth is incorrect, debt does not disappear after 7 years in Canada. However, this doesn’t mean your debt disappears. It just disappears from your credit report. A creditor could still attempt to collect outstanding debts from you after 7 years.